Membership

A newly organized or existing state or national bank, thrift, Edge Act company or industrial bank that seeks to become a state member bank of the Federal Reserve System. A bank seeking membership should contact the Federal Reserve prior to submitting a final application to allow for the completion of a pre-membership examination, if needed.

Sections 208.3 and 208.6 of Regulation H

Section 225.14(c) of Regulation Y.

None required

Form FR 2083A/B/C – Application for Membership

15 calendar days after receipt

If an institution does not meet the requirements (Section 208.2(e)) for 15 day processing, the application will be processed 30 - 60 days after receipt unless applicant is otherwise notified.